Nomura Holdings Inc IR Day Transcript
Good morning. I am Okuda from Nomura Holdings. Thank you very much for attending our Investor Day event despite your busy schedule. In Japan, the status of COVID was lowered to Class V on May 8, the same level as seasonal flu. Before the COVID, major changes that change the structure of society as a whole gradually spread over 10 to 20 years. However, over the past few years, we have been forced to make radical changes in our lifestyles and the ways of working with digitalization being an example. These changes might have happened even without the COVID. But I think the pace of change has accelerated sharply. With that, we are seeing changes in every business that we wouldn't have expected otherwise. Of course, macroeconomics and the financial markets are no exception.
We are confronted with the fact that things that had been taken as normal, such as globalization, low inflation, low interest rates, low-cost financing, safety of financial institutions and so on were never taken for granted. The environment around us has
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